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Higher Sowing Dampens Mustard Market Sentiments; Seed and Oil Trades Lower

25 Nov 2020 7:19 pm
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NEW DELHI (Commodities control) Mustard seed prices slipped again due to weak sentiments. Higher acreage of mustard seed dampened the market tone. Millers were also cautious with regards to fresh buying, purchasing for immediate requirements only. The oil seed slipped Rs. 35 to Rs. 6320-6325 per quintal in Jaipur. Mustard oil and oil cake also followed seed prices.


According to the traders, mustard seed acreage has risen by 10 percent so far. Higher prices this year encouraged farmers to cultivate the oil seed. But lower prices cautioned buyers for new deals. Lower demand lead to price fall in entire mustard complex. Mustard seed prices decreased to Rs. 6320-6325 per quintal in Jaipur. Earlier, it traded at Rs. 6355-6360 per quintal in Jaipur.
Mustard oil fell down to Rs. 1215-1216 in Jaipur and 1205-1206 per 10 kg. in adjoining areas. Earlier, the oil was priced at Rs. 1231-1222 in Jaipur and Rs 1221-1222 per 10 kg. in adjoining areas. Mustard oil cake decreased to Rs. 2625-2630 per quintal, vs Rs. 2635-2640 in the last session.


Total arrival was 100,000 quintals across the country. State wise arrival- Rajasthan 50,000, MP 8,000, UP 15,000, HP 7,000, Gujarat 5000 and other states 15,000 bags.


Futures market witnessed mixed trend today. Mustard December contract lost Rs. 31 at Rs. 5929 per quintal. January contract slipped Rs. 62 to settle at Rs. 5880 per quintal. February contract gained Rs. 35 at Rs. 5682 per quintal. April contract down by Rs. 12 to Rs. 5040 per quintal


(By Commoditiescontrol Bureau: +91-22-40015505)


       
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